By the time Obama was sworn in, he was facing a $1.2 trillion deficit.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.
The deficit was $5 trillion last year under those rules.

1.2 to 5, seems like it rose to me, but I am not a fuzzy math expert

AUTaxMan

08-09-2012, 11:44 AM

All of the big spending in Obamacare kicks in next year. Why do you think they made it effective 1/1/2013? So they could claim he wasn't a big spender.

Wickabee

08-09-2012, 02:40 PM

. Eight years prior, when President George W. Bush took the oath of office, there was a $281 billion surplus. By the time Obama was sworn in, he was facing a $1.2 trillion deficit.

But the whole thing is Obama's fault, at least, in other threads it is.